Jornal Do Brasilia - Global stocks rise tracking company earnings, data

Investors looked ahead to minutes from the last Federal Reserve rates meeting for clues on the outlook for US borrowing costs.

A few minutes into trading on Wall Street the Dow had added around half of one percent with the tech-heavy Nasdaq advancing 0.7 percent, traders buoyed by data showing industrial production rose more than analysts expected in January, according to the Federal Reserve, as manufacturing output saw its biggest gain in nearly a year.

London's FTSE 100 shares index led European gains with a rise of more than one percent after data showed UK inflation eased in January, paving the way for the Bank of England to cut its benchmark interest rate next month, weighing on the pound.

"Lower rates typically translate into weaker sterling which, in turn, flatters the overseas earnings which dominate the (FTSE 100) index," said AJ Bell investment director Russ Mould.

Shares in BAE Systems jumped three percent in London after the British military equipment maker reported a rise in annual net profit and a record order backlog.

London-listed shares in Swiss resources giant Glencore also rose as it announced a return to profit last year.

Paris and Frankfurt stock markets were also up, 0.6 and 0.9 percent respectively, some two hours from the close.

Tokyo's stock market closed up one percent after Washington announced a first tranche of investments by Japan following a pledge totalling $550 billion in a trade deal with US President Donald Trump.

The commitments of $36 billion for three infrastructure projects came as Japan comes under pressure to deliver on its pledges made in 2025 in return for lower US trade tariffs.

Elsewhere in Asia, the Lunar New Year holiday meant trading floors were shut in Hong Kong, Shanghai, Seoul and Taipei.

The euro dipped against the dollar on a report from the Financial Times that Christine Lagarde would step down before her term as European Central Bank president ends in October 2027.

An ECB spokesperson said Wednesday that Lagarde had taken no decision on leaving before her term expires.

Oil prices rose more than two percent meanwhile as traders assessed negotiations between Washington and large crude producer Iran, as the countries met for talks on the Islamic republic's nuclear programme.

US Energy Secretary Chris Wright warned earlier that the US will deter Iran from acquiring nuclear weapons "one way or the other."

Prices had fallen the previous day after Iran appeared upbeat following the talks with US officials, but Vice President JD Vance said Tehran had not yet acknowledged all of Washington's red lines.

- Key figures at around 1445 GMT -

New York - Dow: UP 0.4 percent at 49,737.17 points

New York - S&P 500: UP 0.4 percent at 6,874.83

New York - Nasdaq: UP 0.7 percent at 22,728.91

London - FTSE 100: UP 1.3 percent at 10,699.68

Paris - CAC 40: UP 0.6 percent at 8,416.955

Frankfurt - DAX: UP 0.9 percent at 25,227.05

Tokyo - Nikkei 225: UP 1.0 percent at 57,143.84 (close)

Hong Kong - Hang Seng Index: closed for holiday

Shanghai - Composite: closed for holiday

Dollar/yen: UP at 154.30 yen from 153.29 yen on Tuesday

Euro/dollar: DOWN at $1.1818 from $1.1854

Pound/dollar: DOWN at $1.3535 from $1.3568

Euro/pound: DOWN at 87.30 pence from 87.37 pence

Brent North Sea Crude: UP 2.5 percent at $69.12 per barrel

West Texas Intermediate: UP 2.5 percent at $63.94 per barrel

P.A. Mendes--JDB